Federal Minister for Finance Miftah Ismail has assured the Chinese Independent Power Producers (IPPs) to address and resolve all their concerns on an immediate basis. One key issue is their stuck up payments that reaches around Rs 300 billion.
He said this during a meeting with the Chinese IPPs. The issue of outstanding payments to Chinese IPPs in Pakistan and other hurdles faced by the power producers were also discussed.
Prime Minister Shehbaz Sharif in May 2022, directed to immediately release Rs50 billion to Chinese Independent Power Producers (IPPs) as the first instalment out of outstanding dues of Rs340 billion.
Miftah Ismail shared that China Pakistan Economic Corridor (CPEC) is a flagship project of friendship between Pakistan and China. He expressed the resolve of the government to provide all kinds of facilities to Chinese investors.
The finance minister also formed a committee comprising representatives of finance and power divisions and CPEC to hold meetings with Chinese IPPs on regular basis to address and resolve their concerns.
The CEOs of Chinese IPPs expressed their satisfaction over addressing and resolving their issues.
The meeting was attended by Federal Minister for Power Khurram Dastgir, CEOs of Chinese IPPs and senior officials from finance and power divisions.